Mauritius's trade deficit reached Rs 22.4 billion in May 2026, a year-on-year surge of 35.1%, according to Statistics Mauritius. A staggering +108.6% spike in mineral fuel imports is the primary driver, compounding an already fragile fiscal picture. Exports, meanwhile, contracted 6.2%.
A Widening Gap Despite a Small Monthly Reprieve
Figures released by Statistics Mauritius in July 2026 paint a stark picture: the trade deficit jumped to Rs 22.4 billion in May, up from Rs 16.6 billion in May 2025 — a year-on-year increase of +35.1%.
There is a slight month-on-month improvement to note: the deficit narrowed 8.6% between April and May 2026. This short-term signal does not alter the underlying trend.
Mineral Fuels — The Dominant Pressure Point
A breakdown of imports tells the story clearly. Mineral fuels reached Rs 11.3 billion, representing a +108.6% year-on-year surge, reflecting the sharp rise in crude prices driven by geopolitical tensions in the Arabian Sea and partial closure of the Strait of Hormuz.
Other import categories also increased, though more moderately: machinery and equipment at Rs 6.6 billion, food products at Rs 5.1 billion. Total imports came in at Rs 31.6 billion (+19.7% annually).
Exports Under Sustained Pressure
Against this import surge, exports totalled Rs 9.3 billion in May 2026, down 6.2% year-on-year. Marine bunkering remained the top export category (Rs 3.6 billion), followed by food products (Rs 2.63 billion) and manufactured goods (Rs 1.47 billion). South Africa and China remain the principal trading partners.
Why It Matters
A trade deficit is not new for Mauritius — an island with no domestic energy resources — but a 35% acceleration in a single year arrives amid already strained conditions: public debt at 86% of GDP, a negative outlook maintained by Moody's, and pressure on foreign exchange reserves. Every oil price spike feeds directly into the trade balance. The government has announced no specific mitigation measures. Balancing deficit control against purchasing-power protection will be a central challenge in the next budget cycle.
Source: Statistics Mauritius, L'Express Maurice, July 2026.